503 Main St · Garwood, TX 77442

$145,000

3 bd · 2.5 ba · 2,080 sqft · SingleFamily · 93 Days on market

Built 1941 Fair condition 0.48 ac lot $70/sqft · 18% below area Est $176k · 18% under ↓ 33% since listing

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Cash flow +14.2/30.0
• DSCR +4.3/10.0
• Appreciation +4.3/10.0
• 1% rule +3.9/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Come see this beautiful park like setting featuring a 3 bedroom 2-1/2 bathroom home. The trees will absolutely take your breath away! 503 Main Street consists of 8 city lots totaling 28,000 sqft, which offers plenty of space for gardening, FFA, 4H, or an additional house. The backyard has multiple storage buildings, and is fully fenced. City Sewer and Water is provided for the house, and for gardening and watering the yard there is a separate water well. The possibilities are endless! Come see the beauty that Garwood, TX has to offer, and this wonderful 1940's home!

Key facts

• Fully fenced
• Park like setting
• Separate water well

Tags

• PARK LIKE SETTING
• MULTIPLE STORAGE BUILDINGS
• FULLY FENCED
• SEPARATE WATER WELL

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $145k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $23 ($274/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (10.5% below list).
• Recommended offer: $130k (10.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Rice CISD (rural): math 34% / reading 32% proficiency, ranked #574 of 826 in TX (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 21 active listings in the ZIP; 29 units permitted in Colorado County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.4%/yr); year-one equity from $1k of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,738 (10.5% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.89% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.68%
• DSCR: 1.03
• GRM: 9.3

CMA / ARV

• ARV (median comp): $176,449
• List price: $145,000
• Delta: -17.82%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-1.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -7.1%
• Equity multiple: 0.70×
• Total profit: $-12,162
• Equity at exit: $32,107

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $424
• Equity at exit: $31,307

Cash invested: $40,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 77442

• Home prices YoY: -1.7%
• Active inventory: 21
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,297 medium
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $23

Break-even live

Break-even rent $1,268

Max offer price $145,000

Occupancy floor 93%

Sensitivity live

Price	-10% $123	-5% $73	+0% $23	+5% $-27	+10% $-77
Rent	-10% $-80	-5% $-28	+0% $23	+5% $74	+10% $125
Rate	-1.0pp $96	-0.5pp $60	base $23	+0.5pp $-15	+1.0pp $-53

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-21
   days on market $145,000 Active 93 DOM
2. 2026-06-21
   days on market $145,000 Active 92 DOM
3. 2026-06-18
   days on market $145,000 Active 90 DOM
4. 2026-06-17
   days on market $145,000 Active 89 DOM
5. 2026-06-16
   days on market $145,000 Active 88 DOM
6. 2026-06-15
   days on market $145,000 Active 87 DOM
7. 2026-06-15
   days on market $145,000 Active 86 DOM
8. 2026-06-13
   days on market $145,000 Active 85 DOM
9. 2026-06-12
   days on market $145,000 Active 84 DOM
10. 2026-06-09
    days on market $145,000 Active 81 DOM
11. 2026-06-08
    days on market $145,000 Active 80 DOM
12. 2026-06-08
    days on market $145,000 Active 79 DOM
13. 2026-06-05
    days on market $145,000 Active 77 DOM
14. 2026-06-03
    days on market $145,000 Active 75 DOM
15. 2026-06-02
    days on market $145,000 Active 74 DOM
16. 2026-06-01
    days on market $145,000 Active 73 DOM
17. 2026-05-31
    days on market $145,000 Active 72 DOM
18. 2026-04-21
    price $145,000 572-char remark

    Show marketing remark (572 chars)

    Come see this beautiful park like setting featuring a 3 bedroom 2-1/2 bathroom home. The trees will absolutely take your breath away! 503 Main Street consists of 8 city lots totaling 28,000 sqft, which offers plenty of space for gardening, FFA, 4H, or an additional house. The backyard has multiple storage buildings, and is fully fenced. City Sewer and Water is provided for the house, and for gardening and watering the yard there is a separate water well. The possibilities are endless! Come see the beauty that Garwood, TX has to offer, and this wonderful 1940's home!

19. 2026-03-20
    listed $155,000 Active 572-char remark

    Show marketing remark (572 chars)

    Come see this beautiful park like setting featuring a 3 bedroom 2-1/2 bathroom home. The trees will absolutely take your breath away! 503 Main Street consists of 8 city lots totaling 28,000 sqft, which offers plenty of space for gardening, FFA, 4H, or an additional house. The backyard has multiple storage buildings, and is fully fenced. City Sewer and Water is provided for the house, and for gardening and watering the yard there is a separate water well. The possibilities are endless! Come see the beauty that Garwood, TX has to offer, and this wonderful 1940's home!

20. 2026-02-18
    historical
21. 2025-11-07
    listed $165,000 Active
22. 2025-01-02
    historical
23. 2024-05-22
    price $165,000
24. 2024-02-05
    status Active
25. 2024-01-21
    status Option Pending
26. 2023-12-04
    price $175,000
27. 2023-10-20
    listed $185,000 Active
28. 2022-10-12
    soldstatus Sold
29. 2022-04-28
    status Pending
30. 2022-04-21
    price $184,900
31. 2022-04-04
    price $194,900
32. 2022-03-12
    price $205,000
33. 2022-02-16
    listed $215,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥111°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,569
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,245
• − Management: −$1,245
• − Depreciation: −$4,218
• Taxable loss: −$2,163
• Est. tax savings @ 24.0%: +$519
• After-tax cash flow: $793/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This 1940s home requires moderate renovations to update the kitchen and bathrooms, and fresh paint to improve its overall appearance. With these updates, it could become a move-in-ready property with significant value increase.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Major bathroom fixtures — worn and outdated
• Minor paint — peeling in some areas

Value-add opportunities

• Both kitchen renovation — modernizing the kitchen would increase both resale and rental value
• Both bathroom renovation — updating the bathrooms would significantly boost both resale and rental value
• Both painting — fresh paint would improve the home's curb appeal and interior aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · worn and outdated	Major	$15,000–50,000
paint · peeling in some areas	Minor	$500–3,000
Total estimated repair cost · 3 items		$18,500–68,000

Value-add ROI direction

• Both kitchen renovation — modernizing the kitchen would increase both resale and rental value ↑
• Both bathroom renovation — updating the bathrooms would significantly boost both resale and rental value ↑
• Both painting — fresh paint would improve the home's curb appeal and interior aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Rice CISD
• NCES district ID: 4836970
• Math proficiency: 34% ▼ -9.00%
• Reading proficiency: 32% ▼ -2.00%
• Median HH income: $39,704
• Composite: 27.72/100
• National rank: #6907
• State rank: #574 of 826 in TX

Livability — Garwood

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Garwood, TX
• Population (ZIP): 1,434

Population outlook (Colorado County) Hauer SSP2

• Today (2025): 20,932 people
• By 2030: 20,803 · -0.6%
• By 2040: 20,518 · -2.0%
• By 2050: 20,325 · -2.9%
• By 2075: 20,086 · -4.0%
• By 2100: 18,228 · -12.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 41% Hispanic / Latino 36% Black 22% Two or more races 2%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Italian 2% Portuguese 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 85% English-only · Spanish 15%

Political lean MEDSL · Colorado

• 2024 margin: Solid R (+57.2) · D 21.1% · R 78.3%
• 2008→2024 swing: -17.9pp toward R · 2008: -39.4pp · 2024: -57.2pp
• All cycles: 2024: R+57.2 2020: R+50.6 2016: R+51.2 2012: R+49.3 2008: R+39.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.42%
• Current HPI: 83.5948
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

-32.6% since first listed

16 events — show timeline

• 2026-04-21 Price Changed $145,000 HARMLS
• 2026-03-20 Listed $155,000 HARMLS
• 2026-02-18 Listing Removed — HARMLS
• 2025-11-07 Listed $165,000 HARMLS
• 2025-01-02 Listing Removed — HARMLS
• 2024-05-22 Price Changed $165,000 HARMLS
• 2024-02-05 Relisted — HARMLS
• 2024-01-21 Pending — HARMLS
• 2023-12-04 Price Changed $175,000 HARMLS
• 2023-10-20 Listed $185,000 HARMLS
• 2022-10-12 Sold (MLS) — HARMLS
• 2022-04-28 Pending — HARMLS
• 2022-04-21 Price Changed $184,900 HARMLS
• 2022-04-04 Price Changed $194,900 HARMLS
• 2022-03-12 Price Changed $205,000 HARMLS
• 2022-02-16 Listed $215,000 HARMLS